St. Paul daily globe., 1887-07-16
1t the Opening On the Chicago Board
Of Trade Yesterday the Mar
ket Looked Sick.
There Were Heavy Sales and the Local
Crowd Continued to Talk About
Hot Wheat.
No Features Of Importance Were De-
veloped in ANY Lines Through
out the Day.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Markets.


Special to the Globe.
CHICAGO July l5.-The wheat procession
seems to be lead by the bears, and they are
rapidly carrying the August option down to
zoe, at which figure there will be game
struggle between the two factions. One
crowd will contend that wheat is so low at
zoe that it is promising purchase. Their
old-time opponents will strive the send the
cereal to Csc, and the fight will develop heavy
buying. heavier selling and large amount of
scalping August wheat opened at 71c, and
five seconds latcr sold at 7O7sc. 1t then fell
to 7Os4c. and in five seconds more was sold
at 7O5sc, after which it rallied.
All the old threadbare and shop
worn rumors of hot wheat were revived, and
for the time being they did effective service.
August corn opened strong ut 3Ic. August
lard at So. 20. and August ribs at $3.50. Sep
tember oats sold at 26ssc. Wheat developed
more strength toward noon. Men were on
the floor who had just arrived from the Da-
kota country, and their representations were
not favorable to the growing crops. They
declared that rain was badly needed. and
that two weeks more of the existing drouth
would work incalculable injury. 4 meeting
of the creditors of Rosenfeld d Co. was held
this afternoon. 1t is probable that the offer
of % cents on the dollar VIII be accepted.
Out of 105 creditors seyenty-siX have signed
the paper pledging themselves 10 accept %
cents.
THE ROUTINE REPORT.
CHICAGO. July 15.-With heavy sales and
the continued disposition on the part OF the
local crowd to talk hot wheat the market at
the opening was sick enough. August opened
at 71c and fell directly to 705sc, after which
it recovered fraction Corn was higher
early, cut not quite so bullish. August
opened at 37lsc and settled down around
37c. There was Il fair-SiZed crowd i'll short
ribs, ana many of them were disposed to buy.
To do this they worked the market off frac-
ton from s. to the opening points and then
took in ribs all the way up to SS27l2. Up to
1890 there were few changes in prices but
the tone remained firm. There was
large trade in corn, especially dur
ing the first half hour of the SeS
sion. Ribs eased back again to s.. 22I2, while
wheat remained at 7034c. The hot wheat
string was pulled again with about the usual
results, no decided break in prices but
nervous. unsteady feeling pervaGing the
minds of the speculation element, and prob
ably having the effect of checking purchases
that would otherwise probably have been
made. The great bulk of trading. which was
light at best was between 1054c and Tie.
The close of the session was easy at 70$4c for
August. After the first hour corn settled
down into Il sort of rut and remained very
steady at > 67S. The trade while active for
time was wholly without significance.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No Q, July. zoe, closing at 69I2c;
August, 7Ic- closing at 70a4c; September,
73c. closing at 7234c: October. G4Ssc. clos
ing at 74l2c. Corn-No.2, July 36s8c closing
al 3614c: August, SIC. closing at 367sc;
September. 377sc, closing at 375sc: OctO-
Der, 377sc closing at 3134c. Oats-NO. -
July, 26I2c. closing at 26S4c: August
26ISc. closing at 26c; September,
26$sc closing at 26l4c Mess pork. per bill
year, SLIGO. closing al S11.50. Lard, per 100
lbs-July. $500. closing al ST 62I2: August,
500, closing at S6.67la; September S6.75.
closing at S6.T7I2; October $3.50, closing
at ST. 50. Short ribs per 100 lbs-July. s.. 80,
closing at s.. 22I2: August, $3.50. closing
at S.. .22l2; September, $40, closing ut
$3.50; october, SS.22l2, closing at $500.
Cash quotations were as follows: Flour
was quiet and unchanged. Wheat-No.
spring. 69I26l70c; No. =. red, 73c. Corn
No. ,. 36I4c. Oats-No y. 26l2c Rye-NO.
., 46c. Flax Seed-No. L Sl.l2; prime tim
othy seed. s.. 20. Mess pork. per bbl, $16.50.
Lard per 100 lbs, So 80: Short ribs,
sides, loose. SS.66I2. Dry sailed shoulders.
boxed SIS. 20.- Short clear sides, boxed,
s.. 9Od6. Whisky-Distillers finished goods
per gal. S1.10. Sugars-Cut loaf, 6Ss;
granulated, GIsc; standard A, sc.
Receipts-Flour. 21. 100 bbls; wheat, 5000
bu: corn, 10000 bu; oats. 100. 600 bu; rye,
10000 bu; barley, 1000 bu Shipments
Flour, 1900 bbls; wheat, 100000 bu;
corn, 100000 bu; oats, $4,000 bu: rye.
1000 bu. On the produce exchange
to-day the butter market was a shade
weaker; creamery, 14@l9c; dairy, 100l6c.
Eggs easier; fresh, 12Gy l4c.